Oxford Technology Correlations

OXH Stock

6.30 0.00 0.00%

The current 90-days correlation between Oxford Technology and Beazer Homes USA is -0.02 (i.e., Good diversification). The correlation of Oxford Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Oxford Technology Correlation With Market

Good diversification

The correlation between Oxford Technology 2 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Technology 2 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Oxford Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oxford Technology when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Oxford Technology - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Oxford Technology 2 to buy it.

Moving together with Oxford Stock

0.76

BOD

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Pair Corr

Moving against Oxford Stock

0.89	CLC	Calculus VCT plc	Pair Corr
0.87	0J6X	Teleperformance SE	Pair Corr
0.84	0ROM	Gestamp Automocion	Pair Corr
0.84	0E5M	De Longhi SpA	Pair Corr
0.8	COD	Compagnie de Saint	Pair Corr
0.79	0NRN	Grupo Catalana Occidente	Pair Corr
0.78	JARA	Jpmorgan Global Core	Pair Corr
0.74	SLP	Sylvania Platinum	Pair Corr
0.7	IMM	ImmuPharma PLC	Pair Corr
0.6	DSG	Dillistone Group	Pair Corr
0.54	AEX	Aminex PLC	Pair Corr
0.52	HSBK	Halyk Bank	Pair Corr
0.47	TOWN	Town Centre Securities	Pair Corr
0.46	0LQQ	Vodafone Group PLC	Pair Corr
0.45	0MJF	Ambu AS	Pair Corr
0.38	0F08	Kongsberg Gruppen ASA	Pair Corr

Related Correlations Analysis

	0HMG	0RKH	DFS	0NYH	0RIP	0LJE	WINE	0JZ0
0HMG		-0.37	0.15	-0.73	-0.62	0.32	-0.47	0.73	0HMG
0RKH	-0.37		-0.02	0.42	0.36	-0.57	0.14	-0.2	0RKH
DFS	0.15	-0.02		-0.01	-0.18	0.11	-0.26	0.23	DFS
0NYH	-0.73	0.42	-0.01		0.3	-0.24	0.68	-0.39	0NYH
0RIP	-0.62	0.36	-0.18	0.3		-0.54	0.12	-0.3	0RIP
0LJE	0.32	-0.57	0.11	-0.24	-0.54		0.09	0.12	0LJE
WINE	-0.47	0.14	-0.26	0.68	0.12	0.09		-0.37	WINE
0JZ0	0.73	-0.2	0.23	-0.39	-0.3	0.12	-0.37		0JZ0
	0HMG	0RKH	DFS	0NYH	0RIP	0LJE	WINE	0JZ0

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

0JZ0	+ 0.73	0HMG
WINE	+ 0.68	0NYH
0NYH	+ 0.42	0RKH
0RIP	+ 0.36	0RKH
0LJE	+ 0.32	0HMG
0RIP	+ 0.3	0NYH

High negative correlations

0NYH	- 0.73	0HMG
0RIP	- 0.62	0HMG
0LJE	- 0.57	0RKH
0LJE	- 0.54	0RIP
WINE	- 0.47	0HMG
0JZ0	- 0.39	0NYH

Risk-Adjusted Indicators

There is a big difference between Oxford Stock performing well and Oxford Technology Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Oxford Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
0HMG	2.77	(0.50)	0.00	(63.03)	0.00	0.00	5.15	(4.74)	29.36
0RKH	1.89	0.26	0.12	1.36	2.30	(2.13)	6.03	(4.33)	14.08
DFS	1.92	(0.01)	0.03	0.04	2.26	(2.53)	5.07	(4.05)	12.97
0NYH	0.45	0.04	0.22	(1.09)	0.45	(0.52)	1.23	(0.93)	2.96
0RIP	2.26	0.22	0.06	0.21	3.29	(2.43)	5.54	(5.02)	18.53
0LJE	1.77	(0.02)	0.03	0.04	2.25	(1.83)	4.00	(3.67)	9.36
WINE	3.43	0.05	0.02	0.12	4.08	(3.81)	6.90	(6.17)	22.48
0JZ0	1.31	(0.32)	0.00	1.23	0.00	0.00	2.69	(3.43)	9.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oxford Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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